Vivid Money, a German challenger bank, is making preparations to launch in Ireland amid increasing competition in the banking app space. The company has registered its Irish entity and hired a former Coinbase country manager in Ireland to oversee compliance and risk in Dublin. "The team is currently exploring options for further expansion plans and the Irish market is definitely interesting for Vivid Money," a company spokesman said. The company provides a banking app and card for users, much like the other fintech mainstays operating around Europe. In Ireland it will be entering a busy market where Revolut and N26 have amassed strong customer bases in recent years - with the former surpassing a million Irish users in May.

Source: Irish Independent November 29, 2020 02:26 UTC